The Ningbo Container Transport Index rose 8.8% in November.

Container turnover of Chinese ports in January-October 2023 increased by 4.9% compared to the same period last year and amounted to 257 million TEU. This is evidenced by data provided in a report by the Ningbo Zhoushan port group.

The Ningbo Container Freight Index (NCFI) averaged 706.6 points in November, up 8.8% from the previous month. In November, there was an imbalance of supply and demand for services between Asia and North America.

It is noted that cargo shipments before the Christmas and New Year holidays have ended, and the container shipping market has again entered the off-season period. At the same time that container carriers are taking measures to control the availability of free capacity, orders continue to grow, the influx and placement of new ships on container services, which is why there is now an excess of tonnage. In November, the average sea freight rate for a 40-foot general purpose container (40GP) from the port of Ningbo to the port of Los Angeles, New York and New Jersey was $1,768 (2%) and $2,338 (6.6%) compared to October.

As IAA PortNews reported, the total cargo turnover of Chinese ports (sea and river) in January-October 2023 increased by 8.5% compared to the same period of the previous year - to 14 billion tons. Including cargo turnover of sea (coastal) ports reached 9.01 billion tons (+7.3%). In October, the total cargo turnover of Chinese ports increased by 8.1% to 1.49 billion tons, including sea ports by 9% to 419.7 million tons.